Operations Manager, Trade Finance Operations
TORONTO DOMINION (SOUTH EAST ASIA) LIMITED
Banking and Finance
Permanent, Full Time
S$6500 - S$9500
TD Bank Group
Headquartered in Toronto, Canada, with more than 90,000 employees in offices around the world, The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group ("TD"). TD offers a full range of financial products and services to more than 26.5 million customers worldwide through three key business lines:
- Canadian Retail including TD Canada Trust, Business Banking, TD Auto Finance, TD Wealth, TD Direct Investing, and TD Insurance
- U.S. Retail including TD Bank, America’s Most Convenient Bank, TD Auto Finance, TD Wealth, and TD’s investment in Schwab
- Wholesale Banking through TD Securities
TD had C$1.7 trillion in assets as at January 31, 2021. TD also ranks among the world’s leading online financial services firms, with approximately 14 million active online and mobile customers. The Toronto-Dominion Bank trades on the Toronto and New York stock exchanges under the symbol "TD".
In Singapore, TD operates as The Toronto-Dominion Bank, Singapore Branch and Toronto Dominion (South East Asia) Limited, which are collectively known as “TD Singapore” since 1979. The key business in Singapore is TD Securities which is part of Wholesale Banking.
Global Operations and Business Services (GOBS) provide critical infrastructure services that support the trading, investment and corporate banking businesses of TD Securities. Our mission is ‘To Deliver World Class Service’ to all internal and external clients as we place our focus on people, processes and controls. To achieve this, we need great people that are innovative, customer-focused and have a continuous improvement mindset. GOBS also provide independent and objective review on the processes used in various product trade lifecycles.
Trade Finance Operations in Singapore is part of Global Trade Finance Operations within the GOBS organization. The team provides operational support to the Global Trade Finance business line during Asian hours. The team takes great pride in providing legendary customer services to both internal and external clients.
The incumbent will assume the overall responsibility of the Trade Finance and Lending Operations in Asia Pacific. The position manages a four-person team in Singapore.
The individual will be responsible for the execution of all trade finance transactions, including both primary and secondary market transactions, ensuring that a high level of customer service is maintained at all times. The Position ensures that procedures, policies and reporting deadlines are adhered to, thus protecting the Bank and its clients. The Position ensures necessary due diligence is conducted for specific transactions to minimize the business risk.
The position requires broad knowledge of trade finance business to provide procedural, documentation and structural advices on complex or new transactions to the Trade Finance Front Office. The Position ensures high operational efficiency and service quality important to enhancing customer confidence in the Bank.
The incumbent will also be responsible for the timely submission of various regulatory and management reports for Trade Finance. The Position works closely with the Finance team in reconciliation and attestation of accounts and the implementation of various finance initiatives.
- Lead and support a team of 4 specialists who offers trade finance solutions to corporates and banks
- Provide strategic directions to their management team and align them with the business initiatives.
- Strong knowledge of industry practices, local market trends, regulatory environment and requirements.
- Enhancing employee engagement and driving culture of recognition for excellent service and innovation.
- Problem identification/resolution and timely escalation and reporting to AVP.
- Drive continuous improvement of processes, and coaching team members to build skills and improve efficiencies.
- Interact and communicate with internal and external customers to resolve issues or address inquiries.
- Collaborate with business partners as part of the operating circles.
- Execute the Operations strategy with a focus on continuous improvement related to service quality, SLA, cost and controls.
- Maintain full knowledge and understanding of internal and external developments, market conditions, regulatory and other changes impacting Trade Finance and loans
- Ensure all controls and policies adheres to department standards and periodically testing such controls.
- Streamline processes and lead change initiatives with emphasis on change management, cost controls, risk mitigation and customer service.
- The senior point of escalation for the unit and provide support for our global businesses, clients and products in which we operate.
- Encourage colleagues to show initiative, motivation, cooperative thinking, team spirit and a business-oriented approach.
- Building and elevating the technical expertise of his team
- Ensuring the timely and accurate processing of all Trade Finance transactions;
- Ensuring cross back up and contingency plans are in place and workable;
- Ensuring prompt response to queries from customers, counterparties, front office or other units of the bank;
- Providing technical advice on Trade Finance matters to clients,
- Assisting clients in their contractual negotiations and making the most of such contact to identify and solicit new business;
- Visiting and/or acting as a reference point to clients, as required;
- Assisting the Front Office to structure and deliver new Trade Finance products to clients.
- Ensuring all transactions processed are properly recorded in the Bank’s credit and accounting systems and that all transaction files contain sufficient paper trail for audit purposes;
- Ensuring all transactions processed are properly authorized and required documentation is obtained;
- Ensuring proper due diligence is conducted for Trade Finance transactions in accordance with the AML Enhanced Due Diligence Procedures for Trade Finance;
- Ensuring the Bank complies with all local regulations of each processing office and is not exposed to any regulatory risk;
- Conducting operational reviews on a regular basis to improve existing operations and identify potential risk areas as the business lines evolve overtime;
- Ensuring the Operations Team has met all financial reporting and disclosure requirements.
- Establish an environment that that promotes respect for the individual employee and adheres to the policies and guidelines of the Bank.
- Direct, train and develop staff to enable them to meet challenges, department objectives and achieve full potential.
- Work with Human Resources to recruit staff with the correct level of skills and competencies adhering to the Bank’s recruitment procedures and best practices.
- Manage the performance of the individuals for whom you have management responsibility. Ensure all staff has clear pre-set objectives and get regular feedback on their performance. Ensure performance appraisals are conducted in line with Company policy and standards.
- Provide leadership, direction, advice and guidance to the team, thus maintaining high levels of integrity, motivation and morale.
- Maintain staff competence by ensuring that staff skills or knowledge gaps are met with appropriate training and development, so they are able to perform to their maximum capability and fulfil their potential.
- Initiate actions to further improve your own and the team skills and performance. Continuously look for opportunities for professional development.
- Demonstrate TD’s Leadership Profile in all professional and personal activities.
Attributes and Experience:
- Minimum 10 years of experience in the Trade Finance and Lending Operations space in the financial sector;
- Experience in team management;
- Solid understanding of UCP and international banking practices, various SWIFT payment and trade finance message types;
- Knowledge on import L/C processing, collections, guarantees, loan administration and risk participations/
- Trade Finance related Anti-money laundering (AML) and Anti-Terrorist Financing (ATF) expertise
- Proficient in Microsoft Office
- Good verbal and written communications skills;
- Ability to work with clients/counterparties and internal stakeholders at various levels.
- Effective partner, collaborator
- Ability to act with speed and agility
- Strong knowledge of Trade finance & Lending Operations
- Effective Communication
- Ability to influence and negotiate with partners
At TD, we are committed to fostering an inclusive, accessible environment, where all employees and customers feel valued, respected and supported. We are dedicated to building a workforce that reflects the diversity of our customers and communities in which we live and serve and creating an environment where every employee has the opportunity to reach their potential.
Closing on 05 Nov 2021orview more job listings from this company